In addition to our Treasurer. we have an active Finance Committee that advises our Vestry in developing our annual budget for the parish and our preschool, and reviews financial results each month. This Finance Committee advises on capital expenditure needs and all other financial matters except endowment. Our rector is a member of the Finance Committee as well as the chair of the Vestry. Our Senior Warden chairs the finance committee, which also includes the Junior Warden and Stewardship Chair and other members with skills in financial management. St. Dunstan’s has had a balanced budget for each of the past 10 years. Our parish policy requires this.
General Fund Income 2019 Budget
St. Dunstan’s Foundation
Instead of a parish endowment we have the St. Dunstan’s Foundation to support outreach. Our foundation has approximately $450,000 invested in our Diocesan Investment Trust managed by the Episcopal Church Foundation and State Street Bank. It operates with a separate board with our rector a member. All members of our foundation board must be members of our parish. It is a grant-making institution and does not actively administer projects.
This independent board determines its investment and distribution policies, the amounts of annual distributions, and educates our parish on planned giving and other end-of-life matters. For example, it works with members of our parish to plan their own memorials in advance. It files its own tax and legal reports.
The St. Dunstan’s Foundation provided financial grants that totaled $26,800 in 2018.
Stewardship at St. Dunstan’s
The theology and practice of good stewardship is embraced by most members of St. Dunstan’s. We are an active parish with a multitude of ministries and our people are very generous with sharing their financial resources and their time and talents. We believe in the biblical tithe and each year ask our members to work towards the tithe in their giving. Some of our members tithe.
Stewardship Education Program
Our year-round stewardship education program begins in springtime with a series of parish forums where we ask each member and friend of the parish to tell us their own discernments of what God seeks for us to accomplish over the next several years: both new work to undertake and how we can better do what we are now doing. Each year around 50 suggestions are received, and before summer all of our ministry leaders, vestry members, and clergy attend an all-day retreat where every suggestion is carefully reviewed. Five to ten are then adopted for the future, and costs, where necessary, are calculated.
Our members are then challenged to support our future as they have proposed through a colorful stewardship brochure, a link to which is available HERE. This brochure is provided to each parishioner early in the fall. Then around All Saint’s Sunday we hold our annual stewardship luncheon at an event facility in Carmel Valley. Attendance typically exceeds 100 persons. The following week, on “Commitment Sunday,” our members have an opportunity to pledge to return to God some of what God has so abundantly provided us by submitting pledge cards indicating their level of financial support for the next year.
Stewardship Pledge Income
As a result of the comprehensive stewardship program, our total pledge income has grown from around $300,000 10 years ago to about $430,000 in 2019. Our average 2019 pledge is $3,750; our median pledge is $2,100; and approximately 80% of active members make financial pledges. Many members increase their pledges year after year.
A breakdown of our pledges by amount is shown in this chart.
Median amount $2,100
St. Dunstan’s Parishioners Welcome Opportunities to Inspire and Share
St. Dunstan’s parishioners are joyful givers who welcome opportunities to provide for inspiring worship, good adult and children’s education, and to share our possessions with people in so much need and suffering through our many outreach ministries. We serve people in our local community, regionally through our dioceses and national church, and in distant lands. St. Dunstan’s now gratefully provides the fourth largest assessment in the Diocese of El Camino Real.
Capital needs are funded separately on a case-by-case basis. We are now engaged in raising funds for a $175,000 remodeling of our kitchen. Major recent capital projects have included our new pipe organ that also involved refurbishing our nave and sanctuary for a total of $800,000; buttresses for our church building to better provide earthquake protection for $40,000; and new classrooms and meeting rooms in our school building that cost around $500,000. These have all been financed by gifts and are fully paid for. We have a mortgage on our rectory of around $200,000.
The St. Dunstan’s Church budget for 2019 is projected to be $493,600. That figure includes income from pledges, plate offerings, and other sources.
Our Montessori school is self-financing with an annual budget of $405,000. This is financed through tuition income and special fundraising events. Our parish, however, provides capital improvement funds for our school facilities from time to time since we consider it to be an outreach ministry to our community.
In addition to our annual stewardship program, some of our ministries, such as the one on behalf of our partnership with St. Andre’s Episcopal School in Hinche, Haiti, raises $100,000 per year outside of our parish budget. Another ministry, Nancy’s Project, delivers more than $1 million in retail value of donated groceries per year to needy farm labor families in the nearby Salinas Valley.
When considering our parish, our school, special gifts for St. Andre’s, feeding the homeless, and grants from our foundation and the Women of St. Dunstan’s, St. Dunstan’s accounts for almost $1 million in financial activities each year. Around one-half of what we do financially goes into outreach. We are grateful to be able to give more to others than we spend on ourselves.
General Fund Expenses 2019 Budget